At the law firm of Schlagel Long LLC, we are committed to providing our clients with superior legal counsel in the areas of estate planning, real estate law, business formation and trust litigation.

Trust Funds

08/11/2017

The passing of the last grandson of John D. Rockefeller reveals a behind-the-scenes battle over legacy.

Not every descendant of John D. Rockefeller is in agreement about the family’s legacy, according to Private Wealth in "Fighting Over A Dynasty's Soul."

Rockefeller founded Standard Oil, which survives today under the name ExxonMobil. However, the Rockefellers are suing ExxonMobil because they believe the company has not been honest about the impact of fossil fuels on the climate.

The feud came to light when the last surviving grandson of John D. Rockefeller passed away at the age of 101.

A headline of "Rockefeller's Sue Over Effects of Fossil Fuels" is interesting in and of itself. However, even more interesting is what this reveals about dynasties.

It shows how the beliefs and interests of heirs can be radically different than the interests of the founders. This has implications for how those with dynastic wealth set up the trusts to benefit their families. The estate planning attorneys at Schlagel Long will help you plan for these types of generational planning issues. We partner with tax and financial professionals who are also aware of these unique issues.